There are several different Credit Acts that have been legally implemented over the years to help better protect the consumer and in some cases the creditors as well.
Debt Collection Act
This contains information on what debt collectors are allowed and not allowed to do legally to a debtor. If you fail to make your credit card payments you will most likely hear from a debt collector. They have ever right to try to collect their money or do so on behalf of whom they are working for but there are certain rules and regulations they must legally follow. For example if you write a letter to the collection agency requesting that they stop contacting you they have to unless they want to inform you of further legal action against you.
Fair Credit Billing Act
Basically covers errors on the creditor side. If for example you have been billed for $2000 and it was suppose to be $20 but due to a mistake the decimal was moved over two spots, the Fair Credit Billing Act gives you rights in dealing with it.
Equal Credit Opportunity Act
This basically states that each person regardless of age/race/religion etc will be treated the same.
Fair Credit Reporting Act
Credit Agencies collect credit information on you and they sell it to creditors. This act basically helps to ensure this information is correct.